NEW ONLINE CALCULATOR to help determine what going to college will REALLY COST your family

from the NYTimes-

"Today, a new online calculator
http://myintuition.org/
is launching, and it’s designed to combat misimpression with fact. It’s also highly useful, for families up and down the income spectrum.

The calculator is a joint effort of 15 colleges, including Dartmouth, Pomona, Columbia, Williams, Wellesley, Rice and Colorado College. You use it anonymously, and you answer about six quick questions about your finances, such as your annual income and home ownership status. With just a minute or two of work, you can get an estimate of how much college will really cost.

https://nyti.ms/2oVfBVD

I threw my information into the Colorado college one and it gave me a range from $2500 to $12200! That isn’t helpful :frowning:

I tried it for Bowdoin (just picked one at random) and it gave a range of 15,200 to 30,400.

Then I did the Bowdoin NPC (took around the same amt of time). result: 10,420.

I took two and it said we’d get an amount of what was termed as “scholarship”. Supposed to be financial aid? I sincerely doubt we’d actually qualify given our assets.

ETA: I went on the schools’ websites and used the NPC tools there, and no surprise, they came up with zero aid as I would have expected. Strange that this new “tool” doesn’t mesh with those. Seems misleadingly positive.

Knowing the real cost, would just make me sad. :frowning:

Why would this be more useful than existing net price calculators, or College Abacus that puts your information into multiple net price calculators at once?

Too wide a range

I tried it for Rice because I had already used their NPC yesterday and had made a copy of the results. :slight_smile:

I did get a pretty wide range, but the tool also provides a “best estimate.” That figure came rather close (just slightly over $1,000) to the Rice NPC I calculated yesterday.

That being said, I am a divorced, single parent with a deadbeat ex-husband who tends not to be able to keep a job for more than a few months (and hasn’t worked at all for over a year). Who knows what our contribution will really be when the time comes.